Vizsla Extends Deep Mineralization at Napoleon while Silver Continues its Squeeze
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Monday, February 1st.
February gold was up $9 on Friday while silver was up nearly $1 to $26.91. The mining stocks once again, with the exception of most silver stocks, were sluggish, as the GDX ETF was down slightly on Friday. The big topic of focus is the apparent attempt by the Reddit based Wall Street Bets clan's attempt take on the massive derivative short interest in paper silver of all flavors to effect a short squeeze in silver. As this commentary is being written Sunday evening, Comex silver futures are up nearly 7%, trading at $28.77. The Mining Stock Journal heartily applauds the effort by a renegade retail crowd to take on the years of Wall Street corruption, especially the corruption directed at the precious metals market. But the newsletter is worried about a potential Roman Candle effect, in which the price soars but then falls back. That said, there will likely be some sharp moves higher in silver-focused mining stocks as well as micro-cap silver exploration stocks. The Mining Stock Journal will feature a list of its favorite silver plays in the next issue release this Thursday. Regardless of any ephemeral moves generated by Reddit traders, the precious metals sector remains absurdly undervalued.
We’ll get to the news out of the miners and explorers here in just a quick moment, but first a quick mention of today’s sponsor.
This episode of Mining Stock Daily is brought to you by… Integra Resources.
Integra Resources is advancing the past-producing DeLamar Project in southwestern Idaho. The Company has continued to demonstrate resource growth and conversion through greenfield and brownfield exploration and plans on delivering a pre-feasibility study in Q4 2021 to further de-risk and advance the project towards permitting. Integra Resources trades on the TSX-V under ITR and the NYSE American under ITRG.
And here’s what you need to know this morning.
Vizsla Resources provided results from eight new holes at the Napoleon prospect at the Panuco silver-gold project in Mexico. These results demonstrate high precious metals grades down to 320m below surface, a 180-metre step down from previously reported results. High-grade results included 1,909 g/t silver equivalent over 2.42 meters, which also included a .43 meter interval grading 10,019 g/t silver equivalent. These very high grades of precious metals occur with massive sulphide within the veins at Napoleon, Papayo and Tajitos and the Company is trialling ground EM in mid-February to search for similar zones along the entire lengths of the Napoleon and Cinco Senores vein corridors. Vizsla trades on the TSX Venture with VZLA and on the OTCQB with VIZSF. News Release
Also in Mexico, Excellon Resources provided results from underground expansion and exploration drilling at the Platosa Mine. Results included 1,170 g/t silver equivalent over 4.2 meters and 2,109 g/t silver equivalent over 1.9 meters. Drilling is underway to define and discover new mineralization in an area of the Platosa deposit which has never effectively been drilled from surface. Excellon Resources trades on the TSX with EXN and on the NYSE with EXN. News Release
Roxgold shared new exploration drilling results from the Company’s Boussoura Project, located on the Houndé Greenstone Belt in southern Burkina Faso. Highlights from drilling returned 10.7 meters of 5.6 g/t gold and 15 meters of 1.9 g/t gold. Both coming from Fofora Main. At Galgouli, drilling returned 7 meters of 15.9 g/t gold and 3 meters of 21.3 g/t gold. You can see a full rundown of drill results on this morning’s press release, alo found on the Junior Mining Network newsroom page. Roxgold trades on the TSX with ROXG and on the OTCQX with ROGFF. News Release
Ivanhoe Mines says underground development at the Kamoa-Kakula Copper Project in the Democratic Republic of Congo mined and stockpiled 300,000 tonnes of ore grading 5.45% copper from the Kakula and Kansoko mines in January. The tonnage was 11.5% higher than December, while the copper grade was 1.6% higher. The 300,000 tonnes mined in January included 231,000 tonnes at an average grade of 6.20% copper, including 82,000 tonnes grading 8.80% copper from the high-grade centre of the Kakula Mine. The project's pre-production surface stockpiles now contain approximately 1.82 million tonnes of high-grade and medium-grade ore at an estimated blended grade of 4.23% copper. First copper concentrate production remains on track for July of 2021. Ivanhoe Mines trades on the TSX with IVN and on the OTCQX with IVPAF. News Release
Golden Minerals now has its first gold pour from the Rodeo gold project in Durango State of Mexico. The pour occurred on January 30, 2021, on schedule and roughly three weeks after the first loads of material were trucked from the Rodeo site to the Company’s Velardeña oxide plant for processing. The first pour produced approximately 150 gold equivalent ounces. Additional gold pours are planned for early February. Golden Minerals trades on the NYSE and the TSX with AUMN. News Release
FireFox Gold says it has completed its earn-in requirements and exercised the option for a 100% interest in the Jeesiö Gold Project in Lapland, Finland. The exercise comes more than six months ahead of schedule.
Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal.
I’m Trevor Hall. Have a wonderful day. Be well.
The information presented should not be considered investment advice. Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein. Please do your own research or speak with a licensed financial representative before making any investment decisions.